Tron Inc. rings Nasdaq bell as TRX knocks Hoskinson’s Cardano from ninth spot

Tron Inc. is now a publicly traded company on the Nasdaq exchange and has officially joined the Wall Street club after another reverse merger with SRM Entertainment. Justin Sun rang the Nasdaq opening bell to mark the listing ceremony, which he stated was a “dream 15 years in the making.”

Instead of a classic IPO, Tron Inc. bought SRM Entertainment, a toy company that provides Disney and Universal with services. The rebranded holding keeps the initial toy business, though it has become a more general blockchain-oriented company. The company currently has more than 365 million TRX tokens worth about $115 million, which makes it the biggest publicly held TRX.

The Nasdaq listing comes after a $100 million equity capital investment and $210 million strategic fund deployment to establish a strong TRX token treasury.

Based on its filings, the company intends to establish long-term shareholder value by expanding into blockchain and positioning web-based assets. Tron Inc. shares gained 53.27% trading at $10.30 after the initial trading on Nasdaq.

Tron’s TRX eyes breakout as on-chain revenue hits record $1B

Tron’s listing also coincided with broader volatility in the crypto market. It also surpassed fellow cryptocurrencies such as Cardano, whose ADA coin declined by 8%, as TRX grabbed the eighth spot as the biggest cryptocurrency by market capitalization, which currently exceeds $29 billion.

At the time of writing, TRX is going at $0.3149. Analysts are anticipating a short-term upward trend towards the 0.33-0.335 range. That price point has been a ceiling in the past. The $0.3067- $0.31 is being monitored by the technical traders. Should it break below, the sentiment may change, and the price may head to the $0.29 mark, according to projections.

TRX’s growth in 2025 is supported by fundamentals. The network saw more than 784 million transactions in Q2, second only to the number it had in Q3. According to CryptoRank reports, Tron is ranked among the first five blockchain networks in terms of transaction volume in the first half of the year.

On a financial level, the network earned almost $1 billion in on-chain revenue, a new record, in Q2 2025. Such revenue benchmark demonstrates a strong market demand towards the Tron infrastructure, particularly stablecoin issuers, along with DeFi protocols. The growing liquidity foundation and steady user base have allowed the blockchain to become a competitive force in transaction measures.

Sun’s political and DeFi ties with Trump family

Justin Sun has increased his presence in U.S. crypto politics, closely matching the Trump-affiliated World Liberty Financial (WLF) project. Sun has also become an advisor to WLF and accumulated tokens related to Trump valued at over $100 million, including the WLFI token and $TRUMP meme coin.

This past month, the token ventured outside of the Solana ecosystem and released on Tron, facilitated by the LayerZero network and a bridging layer provided by Stargate Finance. Sun hailed the event over social media, adding that the network now has a broader reach by asserting, “All roads lead to #TRON.”